Flowserve Q1 2021 Earnings Report
Key Takeaways
Flowserve Corporation reported a strong start to 2021 with a 47% increase in adjusted EPS year-over-year and a 15% sequential bookings growth. Decisive cost actions and Flowserve 2.0 transformation activities were key to the first quarter performance, as adjusted operating income increased over $20 million from last year.
Total bookings were $945.0 million, down 3.3%, or 6.0% on a constant currency basis and up 14.5% on a sequential basis
Reported Earnings Per Share (EPS) of $0.11 and Adjusted EPS of $0.28
Sales were $857.3 million, down 4.1%, or 7.0% on a constant currency basis
Backlog at March 31, 2021 was $1.9 billion, up 1.6% versus December 31, 2020
Flowserve
Flowserve
Forward Guidance
Flowserve revised certain of the full-year metrics of our 2021 target range. Previously announced metrics not shown below are reaffirmed as of today.